Redburn Partners Cuts Charles Schwab (NYSE:SCHW) Price Target to $68.00

Charles Schwab (NYSE:SCHW) had its target price cut by equities researchers at Redburn Partners from $70.00 to $68.00 in a research note issued on Friday. The brokerage currently has a “sell” rating on the financial services provider’s stock. Redburn Partners’ price objective indicates a potential downside of 11.08% from the stock’s previous close.

A number of other equities research analysts have also weighed in on SCHW. The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cowen increased their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.41.

Charles Schwab Stock Up 1.3 %

Shares of NYSE:SCHW traded up $0.96 during trading on Friday, reaching $76.47. 6,194,801 shares of the stock traded hands, compared to its average volume of 7,882,430. The stock has a market cap of $136.09 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50-day moving average of $77.58 and a two-hundred day moving average of $70.60. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.35.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Charles Schwab will post 3.13 earnings per share for the current fiscal year.

Insider Transactions at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Charles Schwab

Several hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the third quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at approximately $31,000. Future Financial Wealth Managment LLC purchased a new stake in Charles Schwab during the 3rd quarter valued at $32,000. Finally, Planning Capital Management Corp bought a new stake in Charles Schwab in the third quarter worth $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.